The royalty specialist company Royalco Resources Ltd (ASX: RCO) gained an income in the March quarter of $A138,819.
All the income came from the 1% interest in the Weeks royalty held on the Bass Strait oil and gas project in Australia, which it has placed on the market.
The company underwent a major rationalisation last year after several projects in Australia were mothballed by market conditions, and the healthy cash flow from the Globe-Progress gold mine at Reefton, owned by OceanaGold Corporation (TSX & ASX: OGC) had expired before that mine was mothballed.
Royalco retains an interest in New Zealand, including a royalty entitlement on the currently mothballed Sams Creek gold project where the 80% operator MOD Resources Ltd (ASX: MOD) and original holder OceanaGold are selling to planned Australian IPO Condamine Resources.
The quarter report said Royalco has a 1% royalty entitlement to Sams Creek.